First Trust Advisors LP Reduces Stake in Diamondback Energy

Institutional investor sells over 300,000 shares of oil and gas company in Q3

Mar. 10, 2026 at 9:05am

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First Trust Advisors LP, an investment management firm, decreased its position in Diamondback Energy, Inc. (NASDAQ:FANG) by 31.1% during the third quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The firm sold 312,723 shares of the oil and natural gas company's stock, leaving it with a remaining stake of 692,486 shares worth $99.1 million.

Why it matters

Diamondback Energy is a major player in the Permian Basin, one of the most prolific oil and gas producing regions in the United States. Changes in institutional ownership of the company's stock can signal shifts in investor sentiment and provide insights into the overall health of the energy sector.

The details

According to the 13F filing, First Trust Advisors LP sold 312,723 shares of Diamondback Energy during the third quarter, reducing its total position to 692,486 shares. The firm cited unspecified reasons for the stock sale, which represented a 31.1% decrease in its holding of Diamondback Energy shares. Despite the reduction, First Trust Advisors LP remained a significant shareholder, owning 0.24% of Diamondback Energy's outstanding stock as of the end of the quarter.

  • The 13F filing covers the third quarter of 2026.

The players

First Trust Advisors LP

An investment management firm that decreased its position in Diamondback Energy by 31.1% during the third quarter of 2026.

Diamondback Energy, Inc.

An independent oil and natural gas company focused on the development, exploration and production of unconventional resources in the Permian Basin.

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The takeaway

The reduction in First Trust Advisors LP's stake in Diamondback Energy reflects broader shifts in investor sentiment towards the energy sector, which has faced headwinds from factors like volatile commodity prices and the transition towards renewable energy sources. However, Diamondback's strong position in the prolific Permian Basin suggests it remains an attractive investment for institutional investors focused on the oil and gas industry.